The capital structure is increasingly strained by accumulated deficits reaching -$9.0M, while the cash position has eroded to $412,900 as of 2026Q1.
| Cash & Short Term Investments | 3.05M | 544.79K | 13.38M | 2.59M | 72.92K | 277.58K |
| Cash & Due from Banks | 412.91K | 544.79K | 13.38M | 2.59M | 72.92K | 277.58K |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 185.33M | 183.79M | 0 | 0 | 0 | 0 |
| Investments Growth % | 0% | - | - | - | - | - |
| Long-Term Investments | 731.38M | 183.79M | 0 | 0 | 0 | 0 |
| Accounts Receivables | 0 | 0 | 0 | 26.28M | 0 | 0 |
| Goodwill & Intangibles | 0 | 0 | 35.86M | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 18.48M | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 17.39M | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 8.53M | 5.55M | 0 | 0 |
| Other Assets | 0 | 0 | 4.47M | 4.02M | 349.93M | 345.22M |
| Total Current Assets | 480.97K | 637.39K | 95.6M | 37.75M | 193.6K | 1M |
| Total Non-Current Assets | 185.33M | 183.79M | 48.86M | 9.57M | 349.93M | 345.22M |
| Total Assets | 185.82M | 184.42M | 144.47M | 47.32M | 350.12M | 346.22M |
| Asset Growth % | 544.13% | 27.66% | 205.28% | -86.48% | 1.13% | - |
| Return on Assets (ROA) | 2.51% | 3.05% | -58.87% | -135.64% | 1.72% | 1.48% |
| Accounts Payable | 0 | 0 | 7.98M | 13.12M | 0 | 0 |
| Total Debt | 0 | 0 | 149.59M | 62.6M | 828.6K | 0 |
| Net Debt | -412.91K | -544.79K | 136.22M | 60.01M | 755.68K | -277.58K |
| Long-Term Debt | 0 | 0 | 148.09M | 664K | 0 | 0 |
| Short-Term Debt | 0 | 0 | 1.5M | 61.94M | 828.6K | 0 |
| Other Liabilities | 9.38M | 9.14M | 14.47M | 13.23M | 6M | 20.56M |
| Total Current Liabilities | 138.74K | 23.51K | 79.44M | 109.18M | 5.69M | 2.58M |
| Total Non-Current Liabilities | 9.38M | 9.14M | 162.56M | 14.95M | 6M | 20.56M |
| Total Liabilities | 9.52M | 9.16M | 242M | 124.14M | 11.68M | 23.14M |
| Total Equity | 176.3M | 175.26M | -97.54M | -76.81M | 338.44M | 323.08M |
| Equity Growth % | 793.16% | 279.68% | -26.98% | -122.7% | 4.75% | - |
| Equity / Assets (Capital Ratio) | 94.88% | 95.03% | -67.52% | -162.32% | 96.66% | 93.32% |
| Return on Equity (ROE) | 2.63% | 12.91% | - | -206.06% | 1.81% | 1.59% |
| Book Value per Share | 9.54 | 9.48 | -3.91 | -3.11 | 9.81 | 7.59 |
| Tangible BV per Share | 9.54 | 9.48 | -5.34 | -3.11 | 9.81 | 7.59 |
| Common Stock | 185.33M | 183.79M | 14K | 7K | 349.93M | 345M |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -9.04M | -8.52M | -411.38M | -354.93M | -17.55M | -21.92M |
| Accumulated OCI | 0 | 0 | 165K | 143K | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidation and redemption risk
As reported in recent financial filings, FACT's total assets have trended toward a steady state of $185.8M, yet the underlying cash position has eroded to $412.9K by 2026Q1, reflecting a trajectory defined by administrative depletion rather than value-accretive growth or operational expansion.
The contraction in liquid assets suggests that the entity is nearing a critical juncture where the cost of maintaining its public listing may soon exceed its available resources. Investors should monitor whether the sponsor provides additional capital, as the current trajectory indicates a lack of organic self-sustainability.
Based on the company's 2026Q1 balance sheet, the cash balance of $412.9K represents a significant decline from the $1.2M reported in 2025Q1, indicating that the entity's liquidity buffer is rapidly narrowing as it continues to fund ongoing regulatory and administrative overhead without any offsetting revenue.
While the current ratio of 3.47 appears superficially healthy, it is heavily influenced by the shell company structure rather than operational liquidity. The rapid depletion of cash reserves suggests that the company may face severe constraints if a business combination is not finalized in the immediate term.
According to historical balance sheet data, the company's equity position has been consistently undermined by accumulated deficits, which reached -$9.0M by 2026Q1, highlighting a structural erosion of shareholder value that is typical for SPACs failing to secure a timely and accretive business combination.
The persistent negative retained earnings reflect the ongoing costs of the search process, which have not been offset by any operational success. This trend warrants further investigation into whether the current equity structure can support a viable merger without significant additional dilution to existing shareholders.
As indicated by the provided financial statements, the headline equity figure of $176.3M masks the potential for massive shareholder redemptions, which could effectively drain the trust account and leave the entity with insufficient capital to execute a meaningful business combination or sustain its ongoing operations.
The reliance on trust assets for potential redemptions creates a non-obvious risk where the balance sheet's apparent strength is entirely contingent on shareholder sentiment. Analysts should interpret these figures with caution, as the actual enterprise value remains highly sensitive to the redemption rate at the time of any proposed merger.
Quick answers to the most common questions about buying FACT stock.
As of 2025, FACT II Acquisition Corp (FACT) had total assets of $184.4M including $0.6M in current assets.
FACT II Acquisition Corp (FACT) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
FACT II Acquisition Corp (FACT) has total shareholders' equity (book value) of $175.3M ($9.48 book value per share). Book value represents the net worth of the company belonging to common stock holders.
FACT II Acquisition Corp (FACT) reported a current ratio of 27.11x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.